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to get a deal done so that i don't have to keep boring people with this term fiscal cliff? >> right. to really get the deal done right you need about 4 troll trillion to get us back on track. that means pro-growth tax reform, entitlement reform and better control of savings of the proposals at this point are not at that level. they're more $2.5 trillion range. we're very anxious to see what the president will put forward in terms of savings and reform. adam: in roughly four days can all of you in washington get this deal done? or is it going to be some kind of a patch with some kind of delay and than we'll deal with the new congress deals with it? >> well, adam i think you're kind of on it there. it would be great if we can get it done. if not let's at least get the framework to set it up and finish it off right away. either way we have to get a deal done before congress gets adjourned or get a deal done in the new congress. there is enough proposals put forward. get the deal we need to get things on track. adam: we should point out i think senator scott brown out of massachusetts l
fiscal cliff. >>> pam is on fire right now. we have a lot of traffic to talk about, there is an accident in the south bay. >>> that's right, we have not a lot of details but the saratoga ramp is shut down. in san rafael we have a two car crash head-on with injuries. the impact was so severe the front wheels actually came off one car, all but one lane is closed and there is not a lot of traffic -- and there is a lot of traffic with a lot of debris in the roadway. >> not too many folks on the roadways as you make your way into the city. here is rosemary orozco. >>> giving you a look at storm tracker 2, picking up a few returns, a few sprinkles are falling and we are picking up a few sprinkles in bodega bay. we do have the possibility of a few light scattered showers with mostly cloudy conditions overhead. for some it is not as cold, upper 30s and 40s around the region. this is what i do expect with today's system. about half the amount of rain is sunday's storm and it is not quite as robust in this direction. we will watch this begin to pick up with the front and 24- mile-per-hour gusts an
approaching fiscal cliff. stock futures are stating right now, on hopes set a round of talks in washington will lead to a breakthrough in the fiscal cliff negotiations. fair to reach a deal could push the u.s. economy into recession. the cethe uncertain see has taken a toll on markets. stocks were sold off for four straight sessions as hopes for a substantial budget agreement have diminished, and all three indexes are on track to end of december in negative territory. the dow was down 150 yester day but closed down just 18 points. after work week that investors in the house of representatives would be reconvening on sunday. >> amazon has announce this year's holiday sales as their biggest ever. consumers purchased 306 items per cent and on their peak day this season. amazons says that customers ordered 26 and a half million items on cyber monday. that's a new record for the online retailer. amazons set another record on christmas day for digital download. the kendall continues to dominate the web sites best sellers. the kendall fire 80 tablet leading the way. >> annual research study revea
with congressional leaders about the fiscal cliff. what other lawmakers are saying about the lack pouf of progress on a deal. >> steve paulson will be up in a few minutes to tell you about the light rain moving this way and what you can expect in your neighborhood over the weekend. >>> 100 years of muni, we will show you footage from the early days. [ female announcer ] this is a special message from at&t. [ male announcer ] it's no secret that the price of things just keeps going up. [ female announcer ] but we have some good news. it's our bundle price promise. [ male announcer ] a price you can definitely count on, for two whole years. from at&t. [ female announcer ] a great price for a great triple-play bundle. [ male announcer ] call now. bundles with u-verse tv, internet and home phone start at $89 a month. now get the same great price for two years. [ female announcer ] switch today and get a total home dvr included, free for life. [ male announcer ] you get reliable, high speed internet on our advanced digital network. choose from speeds up to 24 megs. [ female announcer ] and with u-verse
october. that short shows investors nervous as lawmakers fail to reach a deal to avoid the fiscal cliff. we'll be right back. here's stan roberts who found some people banking bad -- behaving badly. >> we're gonna turn right. >> reporter: every major highway, the chp puts out an all hands on-deck call. it's called maximum enforcement. >> at the next driveway we're gonna turn right. next driveway turn right. >> reporter: this means there is a maximum amount of officers on the road looking for violaters, like this driver who -- well, listen to the officer. >> the reason i stopped you, you weren't wearing her seat belt. >> reporter: the driver claims she forgot. that's not a good excuse. >> you got cited today for not wearing your seat belt. >> reporter: this driver was observed doing something that is all too common in the bay despite it being a violation of the vehicle code. >> drive. drive. drive. exit the freeway. exit the freeway. >> reporter: even driving while on the cell phone without the benefit of a hands-free device and yes, he did get a ticket. this driver ran a stop at a front
the fiscal cliff talks? and some new years resolutions on congress. we will be right back. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty mh access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. gerri: it is official coming house will be back to deal with the fiscal cliff monday afternoon. harry reid asked the politicians to blame john boehner for everything. joining me now, chairman and cofounder. great to have you back. i mean, come on, harry reid was crazy today. >> american people i don't think understand the house of representatives is operating without the house of representatives. it iit's being operated with a dictatorship of the speaker. gerri: how do you respond to that? john boehner quinones says to make everything not happen? >>
ginger zee is standing by. >>> on the edge. washington taking america right up to the fiscal cliff. three days now until higher taxes for all. will there be a deal? as americans and their 401(k)s already taking a hit, paying a brice because of that standoff. >>> crash landing. the jet that skidded off the runway nearly smashing into a crowded highway. >>> and back in the game. the football coach whose battle off the field inspired a major turnaround on it. and tonight, he's about to return.
of that looming fiscal cliff. 15 hours from right now the u.s. economy will go over that cliff unless congress and the white house can work out a last minute deal. if there is no new budget deal by midnight tonight, east coast time, income tax rates will go up for all americans. coming up at 6:15 the new numbers that are being thrown around this morning. >>> it is 6:07. starting tomorrow alameda county grocery stores and most other stores that sell food or alcohol cannot distribute plastic bags to their customers. in place of the single use bags stores are allowed to use paper or reusable bags but they have to charge at least a dime for each bag. customers are being encouraged to bring their own bags when shopping. restaurants can still provide plastic bags to customers. >> i'm trying to remember. >> some of the places i go they give you a discount. they give you five cents if you bring your own bag. >>> time now 6:08. tara is back to talk about your commute. you're also telling us about free rides for new years eve. >> that is right. muni is free from 8:00 tonight until 6:00 tomorrow morning.
fiscal cliff. that's when automatic tax increases and spending cuts would take effect. reaching a deal before then what be easy. right now both sides are involved in a high-stakes political blame game. >> we in washington are working while the house of representatives are out watching movies and watching the kids play soccer and basketball and doing all kinds of things. they should be here. >> i told the president i would be happy to look at whatever he proposes but the truth is we're coming against a hard deadline here. i said this is a conversation we should have had months ago. >> former president george h. w. bush is still in intensive care at a hospital in houston with a stubborn fever. the family is, that he will be out of the i see you sound. the chief of staff said supporters a note yesterday including " he would ask me to tell you please put the sharks back in the closet " the 88 year- old has been in a hospital for more than a month after first coming down with bronchitis. >> a live look at the james lick and traffic is light. it is very cold and we will have updates on your
increased with the fiscal cliff became more cautious but not unfeeling. >> deals right now. more deals after christmas but somebody always has to open a gift at christmas. >> reporter: they had predicted a increase of 3.3%. but it just came out with a prediction of 2.5%, still an increase. reporting live, consumer editor tom vacar, ktvu channel 2 news. >>> a south bay sheet metal shop created a shiny work of art inspired by the holiday season. >> look at this. a 14-foot tall stainless steal christmas tree. >> everybody who sees it is excited. 10 people worked 500 hours to build the statue. >>> at the toy drive outside lefty o'doul's they are hoping for a christmas miracle. we will explain why they need help. >> bad accident on highway 84, but how are the rest of the roads doing? >> back here, rain to talk about for christmas day, when it starts, when it ends and how much you will see. back here in 10 minutes. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it
friendly in a few days. we are watching right now the fiscal cliff negotiations and traders are watching closely and it is a flat morning as they are on both sides of the aisle trying to work that out. >>> and now dave clark and pam cook are both off and we continue with ktvu channel 2 morning news. >>> there was a police shooting overnight in walnut creek. christian captain is near 680 with new information he found out within the past hour, christian? >> reporter: we have been on the scene since 4:30 and there is still a sizable police presence and we have seen some units just leaving in a few minutes. we have learned of course this was an officer involved shooting. if you take a look from our vantage point, the scene is at that brick wall you can see in the distance. police confirmed it all started as domestic violence and we have learned that the initial 911 call came in shortly before 3:15. >> we received 911 call transfer from the fire department at 3:13 this morning. there was screaming on the line. officers were dispatched and arrived within minutes. we received a radio transmissi
. >> the president says he's optimistic, congressional leaders promise avivement why the fiscal cliff compromise will be a cliff hanger. >> and a step back in time. how you can buy a piece of the past from your favorite ride. >> grieve, i'm elizabeth cook. >> a man and child pull from the waters and sadly, neither survived. the coast gash got the call of two people in the warter near point bonita. alyssa is there. >> reporter: the bodies were taken to fort baker. the man and young boy were at black sands beach. known for it's beautiful views of the city and treacherous surf. this stretch of coastline in sausalito is where a man and child were swept to sea and drowned. they were found floating under the golden gate bridge. late this afternoon, around 4:00, a third person who was taken out by the waves was able to get out of the surf and call 911. >> rescue united arrived and recovered two bodies, one male adult and one child. >> reporter: the water, a chilly 53 degrees. there was a high surf advisory. the beach is popular for fishing and picnics an it is dangerous with steep paths an rocks. it wa
to the edge of the fiscal cliff. will every american see their taxes go up when that famous ball drops? our chief white house correspondent jon karl on the behind-the-scenes scramble tonight. >>> on ice, the deadly accident in the west. the frigid system moving into the east, just as many dig out from more than a foot of snow. meteorologist ginger zee standing by tonight. >>> caught on tape, the chilling new view of that deadly crash landing, the jet spinning to a halt feet from a bustling highway. tonight, who authorities are now zeroing in on. >>> and amazing grace. what we're now learning about the presidential serenade from the oak ridge boys. ♪ amazing grace how sweet the sound ♪
comforts that town right now. also this morning, a rather dire prediction about the fiscal cliff and what might happen when lawmakers return later this week. it's a pocketbook issue for all of us. >> some people are expecting to maybe go right over that cliff. >> more likely than a couple days ago. >>> and later this half hour, the christmas edition of our insomniac play list. your favorites performed with an updated beat. putting a new spin on some of the old christmas classics. >> good to see ceelo hanging out with the muppets there. >>> topping our news right now, the nra is not backing down from its call to place armed officers in the nation schools. >> congressman chris murphy whose district includes newtown calls it tone deaf and also revolting. >> reporter: from the brooklyn bridge in new york to the sidewalks of falls church, virginia, anti-gun protests are springing up around the country. the debate on gun control has also triggered a run on gun shows and gun stores. sales are soaring as people rush to buy assault weapons before a possible ban. >> we're completely out of the so-c
's all because of the worries about the fiscal cliff. suzanne. >> all right. let's just listen in, and i'll bring you back for a bit. ♪ >> all right. there you go. allison, i want to bring you back for a couple quick questions here. we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for anyway. we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's ye
the car and threw it into traffic where it was run over. >> turning now to the fiscal cliff. it's cost americans more money in tax asks caused deep cuts to many programmer autos there is no deal. right now, congressional leaders said to be close toon agreement f it happens it won't be until tomorrow at earliest. >> abc 7 news has been monitoring the back and north and joins usry. mark, safe to say we may go over the cliff but not to a crash landing. >> you're right that. is a good way to put it. just hours until the fiscal cliff deadline, house republicans have pulled a plug. this, after both senate and white house made it clear a deal was very close. >> president obama told supporters this afternoon that there has been progress in avoiding a hike in middle class tax autos preventing that tax hike has been my top priority. >> the president said the deal being worked outwqjx between the senate republican leader mcconnell and vice president will extend current tax rates for households making up to $450,000 per year, increasing estate tax rate from 35% to 40%, and extend unemployment bene
whitfield. here are the top stories we are following right now. >>> that fiscal cliff. we are at the very edge. senate leaders are working through the weekend trying to reach a deal before the deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of where things stand. i
to washington. when he arrives on thursday, it's right back to budget negotiations with the fiscal cliff deadline less than a week away. >> reporter: as the president wrapped up his vacation, federal workers trickled back into the nation's capital. the only people who can avert the fiscal cliff, members of the house and senate, have not returned. and in just six days, a 2% payroll tax is set to expire, along with the bush-era tax cuts, shrinking the average worker's paycheck in 2013 by about $1,500. long-term unemployment benefits for about 2 million jobless americans are also set to expire, and $110 billion worth of spending cuts to domestic and defense programs will kick in, forcing layoffs in the public and private sector. if congress doesn't act, all the cuts and new taxes will squish the economy back into a mild recession by mid-2013. the impact of some of these new cuts and taxes wouldn't be felt immediately on january 1st because the irs and other agencies didn't expect it to come to this. it could be a few weeks before workers see more money being withheld in their paychecks. >>
. >> reporter: so the fiscal cliff will be resolved? >> not right away. it will be resolved ultimately. the entrenchment of people who don't believe in government and the damage they have been able to cause because of that is diminishing. >> reporter: you haven't been particularly pugnacious today, but has it cost you, do you think, to have been as pugnacious as you have been over all these years? >> no. this is probably the media stereotyping. i can't think of any achievement i tried to accomplish. i guess people aren't as hypersensitive as that question would assume, by which i mean the notion that people would not go along with an important public policy because i hurt their feelings, i don't think that's true. >> reporter: what are you going to do next? >> i'm going to write two books, i hope, one on liberalism, one on the history of the gay rights movement, give lectures for pay, do some tv commentary, and i hope teach. >> reporter: standup comedy. we once talked many years ago about, your fantasizing about it. >> no. that's too hard. that's too hard. going before an audience of p
collectively tend to get this right-- that we're probably not going to go off the fiscal cliff or if we do go off the fiscal cliff it will be a small package of some tax increases, some spending cuts, but it's not going to put the economy into a recession. so what i've been telling clients is let's just hold the line right here. let's not sell precipitously. let's wait until we see the outcome. but right now i think there's a real good chance that the outcome could be positive or will muddle our way through this significant problem. >> ifill: let me ask you a question which politicians kept bringing up during this last election which is the that the uncertainty is what makes people nervous in the business world. is this the kind of uncertainty they were talking about? >> it absolutely is. you mentioned before the retail sales numbers for this christmas season and the retail sales numbers for this christmas season were very poor, very soft. this is both individuals and individuals affecting companies making decisions and it's really largely driven by their significant uncertainty about what's
. >>> with the government right on the edge now of that fiscal cliff, taxpayers are facing a lot of uncertainty as we head into the new year and for many of us the usual year-end financial strategies simply may not apply this year. 7 on your side's michael finney sorts out some of the confusion. >> reporter: when it comes to year end finances the old rules may not add up this year. >> it is difficult to do any type of tax planning and advising because nobody really knows exactly what is going to happen. >> much of the uncertainty centers around whether the united states is about to fall off that a fiscal cliff. if that happens, that would mean the end of the temporary payroll tax cuts. even if that doesn't happen, most believe taxes will go up next year. >> one of the things that is being floated right now is people are advising people to get out of dividend paying funds, high dividend yield funds and move more into tax exempt bonds and things like that that won't be taxed. >> reporter: the current budget negotiations between president obama and house speaker john boehner also could mean the reduction of
the fiscal cliff, right? come back to work and let a majority in the house, republicans and democrats, work their will. let democracy work to protect the middle class. it is essential we pass the extension of unemployment insurance. that is why the president has been very clear on that since day one that it should be a part of any plan. these are people who are out of work through no fault of their own. they are looking for jobs in what is still a tough economy and providing unemployment benefits provide more security for those americans and their families, but it is good for everyone else also. those people have a little bit more money in their pockets to spend on goods and services to support their family which is good for everyone else. when they are spending money, businesses can sell more goods and services and we have some small business representatives here who know very well that the more people have money in their pockets, the more customers they have with money, the more they can sell their goods and services, and the better off the country will be. let's get back to work. allow t
. as lawmakers take us right up to that fiscal cliff. this evening, three days to go before taxes go up for all americans. will the president's pressure on congress bring in a deal? let's bring in jon karl on this. jon, are they any closer? >> a little closer, but they are certainly not there yet. tonight, congressional leaders are making one last-ditch effort to keep most americans from waking up to a big tax like on new year's day. with just three days left, finally a glimmer of hope. >> i'm hopeful and optimistic. >> whatever we come up with it's going to be imperfect. some people aren't going to a like it. >> reporter: right now, it's all in the hands of the two senate leaders. democratic harry reid and republican mitch mcconnell. they're working on a mini-deal that would prevent a tax increase for roughly 98% of american workers. extend unemployment benefits that are set to expire for some 2 million people. and prevent a huge cut in payments to medicare doctors. what took so long? >> the american people are watching what we do here. obviously, their patience is already thin. this is deja v
-called fiscal cliff. the president and lawmakers have just hours left to reach an agreement before the midnight deadline. tonight on ktvu channel 2 news at 5:00, a live report from washington and a look at the impact these last-minute talks are having today. >>> again, thank you for trusting ktvu channel 2 news. we'll see you the next time news breaks. also, we're always here for you at ktvu.com and mobile ktvu.com. have a good afternoon.
services is. >> that fiscal cliff will hurt the city to the tune of almost $80 million right away. >> reporter: most of the cuts would be in health care, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay alameda county supervisor predicted -- >> our health clinics will get hut. our w. i. c. program which is a program for mothers they get nutrition for their newborn babies and we have several sites in alameda county that would also experience a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good a lot of californians are willing to invest in the schools. perhaps as much as 10% for the special needs students and the meals program that so many of the students in georgia are growing up -- california are growing up in poverty and they need that meal. >> reporter: it's not just the immediate cuts that worries the local officials, it's also the ongoing uncertainty that comes from the stalemate in washington. a stalemate that bay area officials fear could affect the economy just when it's starting to recover.
-- >> that is another piece of legislation up in the air. >> right. and it is all caught up in the fiscal cliff story. >> unbelievable. from a business standpoint bb you have to operate your business regardless of what is going on and the fact we have this uncertainty. there is talk ever further consolidation. is that good for travellers or better to get more capacity out of the air? >> i think that more consolidation is good. it'll start to strip out some of the unnecessary capacity. from an industry perspective, what we are looking for is elected leaders and others to understand the importance of air travel. airlines drive flight percentage gdp. we are talking about a policy in 2013. something about rationalization with taxation. you talk about investment and infrastructure. my gosh, infrastructure in the united states on the ground and in the air. by the way, you talk about also being more globally competitive. this is what a national airline policy is all about. regardless of consolidation, that's what we think makes a great deal of sense for 2013. >> when we were in commercial break, i said, wow
from san jose. ktvu. >> we are less than a week from the fiscal cliff. the united states senate convening right now. we want to show you a live if picture. there it is. that's the senate majority leader. the senators are right now meeting to discuss the economic deadline and coming up at 7:15 we will have more on the fiscal cliff negotiations and how we are closing in on another financial barrier, that debt ceiling. >> let's go to tara filling in for sal. there is another accident in napa. >> we have a two car crash on napa road. that person is trapped inside of the car. chp working to get them out as well as police. we have another incident we want to mention. 880 northbound at 92 split. a solo spin out. it's close to traffic so they are running a break. here is a look at maps where 680 southbound, actually we will go to 101 in san francisco. you can see we have traffic flowing nicely in both directions. finally a look at maze. you can see traffic also flowing very well there on the far right hand side of the screen. let's check in with mark. >> good morning to you. we are t
of these fiscal cliff worries. >> we're going to sort of trend right around here -- it doesn't look like we're going to get a deal before year end of any great significance. that being said, we may get one last year. do we trade in line right here? >> so we're going to trade probably 91 on the upside, 86 on the low side. i think once a deal is done, you're going to see a reemergence of a risk-on rally. i think that's where crude oil breaks out to the upside. we start to get an upward trend. opec's 2013 target is around $100. i think we'll move up into the mid-90s and probably press through that $100. one of the burdens we have is we do have an abundance of supply in the u.s. the u.s. won't export any crude oil, but i think the possibility of us starting to consume more, would drive and help support those higher prices. >> when you put on those longs, i'm wondering, because this week is a holiday shortened week. congress is coming back on the 27th. is this a trade for 2013? >> yeah, it is more of a trade for 2013. i wiould start to look at fartherer out contracts, to like december 2013, and
. >> the american people have a right to be very upset with this congress. >> reporter: the fiscal cliff would bring massive increases and deep spending cuts treasury department would have treble paying its bills. many -- many worry it would plunge the u.s. back into a recession. one possible effect of the fiscal cliff, milk prices could spike two or three dollars a gallon because farm programs will expire the end of the year. some are calling that dairy cliff. wendy gillette, abc news, new york. >>> mike jing us with a look at the -- mike joining us with a look at the forecast, more rain on the way? >>> in due time we'll get light rain not this morning high clouds to the east from sutro tower in san francisco where dry now live doppler 7 hd spinning tracking the showers, the rain i should say as it is developing over the ocean water right now let's see how far that is, 41 miles from santa rosa, 51 from san francisco, under the returns, very dry air, sprinkles at best lieu the 30s, just updated these the entire peninsula, upper 30s only 40s left, half moon bay 41, oakland 42, san francisco 44. every
-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a little bit of movement when they are compromising which americans should should get ready to pay a higher tax rate. >> reporter: in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, vice president joe biden, to help in negotiations, this as the white house puts the blame on the impasse on the gop. >> they say the biggest priority is making sure we deal with the deficit in a serious way. the way they are behaving is the only priority is making sure tax breaks for the wealthie
. >>> lawmakers are taking us right up to the edge of the fiscal cliff. just two more days to go before tacks go up for all americans. will the president's pressure on congress in the last 24 hours bring a deal? john carl has some answers. reporter: with just three days left, finally a imlimmer of hope. >> i'm hopeful and optimistic. >> it's going to be imperfect and people aren't going to like it. >> right now it's in the hands of the two senate leaders pgz democrat harry reid and republican mitch mcconnell. they're working on a minideal that would preinvestigate a tax increase for roughly 98 of american workers, and extend unemployment benefits set to expire for two million people, and cut payments in medicare doctors. >> the american people are watching what we do here. obviously their patience is already thin. this is deja vu all over again. >> the 11th hour evident comes after the president met with the congressional leadership at the white house. his first such meeting in six weeks. even if mcconnell and reid come to agreement, there's no guarantee it will pass before the end of the year.
with the latest storm track. >>> heading home. as we near that fiscal cliff, six days now until higher taxes for all. will there be a deal? also tonight, an abc news exclusive. barbara walters at the white house. asking michelle obama if she'll run for office next. and a personal question, too. >> how do you keep the fire going? >> hmm. that's a good question. >>> made in america.
inflation. >> right. >> and the fiscal cliff business is a big deal. it's a potentially big game changer. i didn't think there was a chance we would go over really until the last couple of days. now i'm thinking there could be a bungee jump where you go over for a couple days and come back. >> if you're a market timer and you believe in your bungee do you think there's going to be an opportunity? >> absolutely. because i truly believe. the good news is, is this is setting ourselves up for true entitlement and tax reform in 2013. it could be six months from now. it could be a very difficult first six months. >> you're looking for a baby deal now? >> there's probably going to have to be a baby deal, partly because of amt. you cannot retro actively fix amt. that would hit millions of people. it's a very, very big deal. very, very costly. everyone would get blamed for it. then there's another things that are part of the deal that you could wait for. payroll tax, that's $160 million. we have obama care taxes. we know those are going through. >> the payroll tax number going up again? >> payroll t
. not with the pending fiscal cliff and the threat of the $7.5 billion cut in nonentitled services. >> that fiscal cliff will hurt the city to the tune of almost $100 million right away. >> reporter: most of the cuts could be in health care, welfare programs for the poor, aids programs and housing. >> that's just an immediate hit. >> reporter: across the bay, alameda county supervisor predicted -- >> this is going to shred the safety net even more. the health clinics that serve the uninsured and under insured will get cut. our wic programs for mothers and we have severals sites that would also have a large cut. >> reporter: education would also take a hit. >> this would undo a lot of the good particularly special needs students would have the programs cut perhaps as much as 10% and the meals programs that so many of the students in california are growing up in poverty. a quarter of the students growing up in poverty and they need that meal. >> reporter: not just the immediate cuts, it's also the ongoing uncertainty that comes from the stalemate in washington. a stalemate that bay area officials fear cou
to the positive right now in hopes of a deal on the fiscal cliff. we'll be back as the kron4 morning news continues in just two minutes. a live look at san jose, it is chilly out there and temperatures are down and the 30's and the inland spots around the bay. traffic is very light in the traffic you are seeing is the 1 01 northbound approaching the 87 interchange. >> the last trading day of 2012. we saw the down dollar down last week with concerns about the fiscal cliff. there are some hopeful signs this morning that a deal was as in the works. dow futures are up 77 points ahead of the opening bell. let's get an update on the eve forecast with erica. >> good morning and it is a cold start. a lot of your actually below the freezing point. it is clear, we have no business issues with visibility. new year's night could be the coldest of the season thus far. and would not be surprised if a freeze warning went into affect but generally dry conditions for the remainder of the week. the exception is thursday, slight potential for some rain for some of our north bay spots. temperatures out the d
go over the fiscal cliff. where both sides are right now. you used the oven? boom ♪ [ male announcer ] pillsbury crescents. let the making begin. here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits let the making begin. >>> good morning. a frigid start. 30s and 40s outside our door. giving you a beautiful spot of union square. a great day too ice skate and maybe do some shopping. >>> at least two firefighters have been shot while responding to a house fire in new york. it happened shortly before 6:00 eastern time near lake ontario. firefighters were shot as they arrived at the scene. one is said to be in satisfactory condition. >> the other's condition is unknown at this hour. firefighters are not fighting the fire right now because they are waiting for police to finish evacuating the area as they search for a shooter. the fire has now spread to other homes. >>> the bickering continues a week away from the fiscal cliff. talks to try to prevent automati
to be very upset with this congress. >> reporter: the fiscal cliff would bring massive tax increases and deep spending cuts. the treasury department would have trouble paying its bills. many economists worry the financial woes would plunge the u.s. back into a recession. just one possible effect of the fiscal cliff. milk prices could spike $2 or $3 a gallon, because farm programs will expire at the end of the year. some are calling that dairy cliff. live in new york, wendy gillette. >> wendy gillette in new york. thank you. >>> the country has lost one of its great warriors. tributes are pouring in this morning for retired general norman schwarzkopf. the general died yesterday in tampa after a battle with pneumonia. schwarzkopf commanded "operation desert storm" that drove iraqi forces from kuwait. in retirement, he championed causes. norman schwarzkopf was 78. >>> now, to former president george h.w. bush's condition. his chief of staff says he will be in the hospital for a while. the 41st president is recovering from a terrible case of bronchitis with a series of complications. she says tha
: the deal under discussion in the senate right now doesn't even include the biggest part of the fiscal cliff, that 1.2 trillion dollars in mandatory budget cuts, spending cuts that are also due to kick in this tuesday. the thinking up here goes like this, let's handle the tax cuts now, and readvise the spending cuts later. >> thank you. in addition to the $500 billion in automatic tax hikes, as you just heard from wyatt, the fiscal cliff also includes 1.2 trillion in mandatory spending cuts. congressional democrats and republicans agreed to these drastic cuts last year, to force both parties to the table on deficit reduction. if they can agree by monday at midnight, the following cut take effects. over the next nine years, the u.s. defense budget would be reduced by $455 billion. domestic programs would be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport security are nothing new. but if the u.s. government goes over the fiscal cliff, they could get even longer
yesterday at the deadline but that deal to avoid the fiscal cliff on new year's if democrats and republicans can't compromise, tax hikes will kick in, the tax policy center said families making $50,000 a year will have to pay $2,400 more in taxes. >>> the excon who lured firefighters to their deaths left a note saying he wanted to burn down the neighborhood and do what i like doing best, killing people. >> we are being shot at. multiple fireman down, i'm shot. >> that was a call that a wounded firefighter made, william spangler burned his home yesterday and waited for first responders. he was armed a gun, a shot gun and a rifle. he opened fire when crews arrived. arrived. two firefighters were killed. >> just always there for you. you just take them for granted. you don't -- >> two more wounded are still in the hospital on this christmas day. spangler took his own life. his rifle is the same make and caliber weapon used by the newtown shooter. >>> families in connecticut are trying to find solace on this christmas day. the town is still reeling from the shooting that killed 26 people at
say they arrested four people, nobody was hurt. >>> happening now, president obama is in the air right now on his way back to washington from hawaii to try to reach a deal to avoid the so-called fiscal cliff. he boarded air force one overnight and will be arriving in maryland around 8:45 this morning. the president cut short his vacation. democrats and republicans have just four days to reach a deal before mandatory budget cuts and tax increases kick in january 1st. >>> new senator representing hawaii will arrive on capitol hill today. lt. governor will fill the seat left vacant by the death of senator daniel inouye. he was chosen from a list of three yesterday. the 40-year-old has served as state lawmaker and chairman of the hawaii democratic party. he will serve until an election in 2014. >>> lance armstrong has until today to appeal the ban imposed on him. he lost his seven titles december 6th, when the international cycling<ç÷%Ñ union banned him from the sport for life. penalties came after the united states anti-doping agency hit him with similar sanctions for using banned subs
avoid the dread td fiscal cliff. president met with house and senate leaders from both parties. president obama later revealed senate majority and minority leaders working behind closed doors right now to koum come up with a deal. he says he's optimistic but he talked about a back up plan. >> will urge senator read to bring a basic package to preproe detective the middle class from a hike. >> no details given but sources indicate the president did not make a new offer to republicans and pushed for a bill stopping looming tax increases on families earning less than $250,000 a year. >> a 24-year-old woman charged in qex killing of two volunteer firefighters in upstate new york on christmas eve. dawn nguyen accused of file filing a falsified business record, investigators say charges relate to purchase of an ar 15 rifle, and 12 gauge shotgun the shooter had when the firefighters were gunned down. three others were hurt before a 62-year-old killed himself. there is his shot. as a convicted felon he could not purchase weapons himself. >> eight u.s. sailors serving on a humanitarian
no deal on the fiscal cliff. why one top democrat thinks we'll careen right off the edge. >>> nobodies show egyptians approve a constitution, the fight is not over yet. why the leading opposition plans to fight it. >>> a winter storm, heading east. it could wreak havoc for lots of travelers today. now we know what you need. >> good morning, everybody. welcome to "early start." chilly in new york city this morning. i'm alina cho. >> i'm dana bash in washington, d.c. it is 30 minutes past the hour. the latest on a developing story from kabul. the capital city in afghanistan, another apparent green on blue killing. an american contractor serving as advisor to the afghan police, shot and killed. this happened this morning, by a woman wearing an afghan police uniform. there have been dozens of attacks this year invol. this is the first by a woman. so far, the victim's name is withheld. >>> this wasn't on our christmas list, but it's starting to look like all of our stockings will be stuffed with a tax hike and spending cuts. crunch time. just eight days until america goes off the fiscal cli
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